According to the definition of profit, if a profit-maximizing firm will always attempt to produce its desired level of output at the lowest possible cost, then it will

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13-07-2017
Business

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According to the definition of profit, if a profit-maximizing firm will always attempt to produce its desired level of output at the lowest possible cost, then it will

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Erudite1 Erudite1 · Answer 1 · 2017-07-22T13:08:44+02:00

If a profit maximizing company firm will always attempt to produce its desired level of output at the lowest possible cost, then it will TAKE A LONG RUN PERSPECTIVE ON COSTS WHEN SUCH COST CAN NOT BE ADJUSTED. Profit maximization refers to the strategies which companies use to increase their profits. A profit maximizing company usually try its possible to produce efficiently at the lowest possible costs, this is the principal goal of the company and it determine the manner in which the company manage costs.